What do you mean "what's the point?" A PC doesn't have OS X, nor does it have support for Apple's applications. OS X is the heart of the Mac. With the move to Intel, it's likely that you will be able to install Windows alongside OS X, if that's of interest to you.
The new architecture will allow for faster PowerBooks with longer battery life, and will possibly be even thinner (according to rumors). At this point I would at least wait until MacWorld San Francisco, which is less than a month away. Most opinions are that Apple will not release pro machines based on the Intel chips at that time, but I would put my money on seeing an Intel PowerBook by the middle of 2006.
If you buy the PowerBook now, you
might kick yourself later for not waiting on the Intel. If you wait, then the worst that happens is that you end up buying a PowerPC-based PB anyway (possibly after prices drop on account of the Intel machines).
My main question for you would be what apps will you be using? If there are a lot of 3rd-party apps that might not be rewritten for x86 yet, then it might be worthwhile for you to stick with the PowerPC for a while longer. If you'll be mostly using Apple apps, then they will undoubtedly be written with universal binaries for full support on both x86 and PowerPC architectures.
In my opinion, the PowerPC is too overpriced considering how long it has been available as a G4 system. I'd stick it out a bit longer to see what's coming.
Also, why Acer? I had an Acer once -- not too impressed myself.